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To: Roebear who wrote (74306)	9/22/2000 8:35:36 PM
From: Think4Yourself	Read Replies (3) \| Respond to of 95453

It is SO easy to prove this SPR stuff is purely for the consumption of the "gullible" public. Let's do some basic math... From the DOE's Weekly Petroleum Status Report, the 4 week daily average input to all US refineries put together is: (15,623+15,787+15,765+15,318)/4 = 15.623 million barrels per day The WPSR also says maximum refinery capacity is 16.1 million barrels/day. Now my math isn't as good as the Prez or the Energy Secretary but by my calculations their own numbers indicate that there is 16.1 - 15.623 = 477K barrels max additional capacity per day. At 100% utilization the refineries could process an extra 477K barrels per day. In other words, IF no refinery were down for any reason in the next month AND they were ALL running all out every minute of every day then 14.3 million barrels of the 30 million barrels could be processed. The other 15.7 million barrels are going to sit in storage somewhere. Looking at refineriy utilizations for the past year, another thought occurred to me. If we are having a shortage of crude of "crisis" proportions requiring government intervention, why are the refineries operating at record high levels? Shouldn't they be running at much lower levels due to shortages of crude or other feedstocks? It's ALL political, ALL of it.

To: Roebear who wrote (74306)	9/22/2000 9:41:54 PM
From: isopatch	Respond to of 95453

Roebear. That's why was so wary about buying early in the drop. When the API was bullish and we still tanked I knew there was negative news out there that was going to surface. Even said so in one of my posts: "By the time a major piece of news is released the move is usually over." The tape tells all. Analysts, politicians, brokers and corporate executives will deceive you from morning till night. But their money NEVER lies! That is the entire rationale behind being a tape reader. Damn hard to read it. Good feel of the tape comes and goes. And lord knows, I make my share of mistakes<G>. But when I get it right, now and then, it really does give me an edge. Isopatch